Financial crunch: Govt bars treasuries from passing bills above Rs 10 lakh
Special permission from the Finance Department should be obtained for approving bills above Rs 10 lakh.
Special permission from the Finance Department should be obtained for approving bills above Rs 10 lakh.
Special permission from the Finance Department should be obtained for approving bills above Rs 10 lakh.
Thiruvananthapuram: Acute financial crisis has forced the Kerala Government to tighten restrictions on treasury transactions. Treasuries have been barred from passing bills above Rs 10 lakh. The earlier cap was Rs 25 lakh.
The special permission of the Finance Department should be obtained for approving bills above Rs 10 lakh, the government ordered.
These controls will be applicable to all bills except those pertaining to salary, pension, buying of medicines and a few emergency services.
The Finance Department has warned treasuries of stern action if bills are passed in violation of the directive. The restrictions on treasury transactions were imposed as part of efforts to ensure funds for Onam expenditure.
Some departments have been restricted by splitting large bills into smaller ones below Rs 10 lakh. The Finance Department has warned that action would be taken against officials who resort to such tactics.
Kerala is staring at an unprecedented financial crisis and finding resources for meeting the expenses have become difficult. The situation has been aggravated with the Central Government reducing the credit limit for the state.